NORTHFIELD, Ill., Oct. 16 /PRNewswire-FirstCall/ -- The Board of Directors of Stepan Company declared a 2.4 percent increase in the company's quarterly cash dividend on its common stock to $0.21 per share. The quarterly dividend is payable on December 14, 2007, to stockholders of record on November 30, 2007. The increase brings the annual dividend rate to $0.84 per share.
The increase declared at today's meeting marks the fortieth consecutive year in which the quarterly dividend rate on its common stock has been increased. The company first initiated a cash dividend policy in 1967.
The Board of Directors today also declared a quarterly cash dividend on its 5.5 percent convertible preferred stock, at the quarterly dividend rate of $0.34375 per share, or at the annual rate of $1.375 per share. The dividend is payable on November 30, 2007, to preferred stockholders of record on November 15, 2007.
Stepan Company, headquartered in Northfield, Illinois, is a leading producer of specialty and intermediate chemicals used in household, industrial, personal care, agricultural, food and insulation-related products. The common and preferred stocks are traded on the New York and Chicago Stock Exchanges under the symbols SCL and SCLPR.
CONTACT: JAMES E. HURLBUTT
(847) 446-7500
